Four Out Of Five Irish Adults Put Away Money For A Rainy Day

Four out of five Irish adults put money away for a rainy day.

A new survey by the Banking and Payments Federation of Ireland has found that 46 per cent of adults have a regular savings account, 46 per cent have an account for occasional savings and 18 per cent have a lump sum on deposit.

Among the 17 per cent who do not have a savings account, 77 per cent said they did not have money to save, while 18 to 24 year olds were the least likely to be saving.

The chief executive of the Banking and Payments Federation of Ireland, Brian Hayes, says the reasons for saving vary depending on the generation.

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